Company
LON:MTO
MITIE Group PLC is a holding company. The Company, through its subsidiary, is engaged in the provision of services in support of the buildings and infrastructure. It is organized in three divisions: facilities services, property services and engineering services. Facilities services offer integrated facilities management and a range of services including, asset management, energy consultancy, document management, front of house, catering, cleaning, engineering maintenance, landscaping, pest control, security, waste and environmental management. Property services offer roofing, repairs and redecoration, interior fit-out, plumbing and heating, social housing maintenance and refurbishment, and fire protection. Engineering services offer services, including mechanical and electrical, energy generation and management, technology, and infrastructure. In March 2008, it completed the acquisitions of Catering Partnership Holdings Limited and DW Tilley Limited.
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Hardware & electrical equipment
The AIM-listed advanced computer vision technology company, said Jack Boyer, who becomes a non-executive director of the company with immediate effect, will take over from Kroeger as chairman on 1 January 2019
Carillion went bust back in January, leaving the government scrambling to find cover for the services which it should have covered
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In a note to clients, analysts at Numis said that MITIE’s financial year 2018 results were in line with expectations, but expectations had been reduced
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Mitie implemented its Project Helix restructuring programme last year in an attempt to reduce costs and improve productivity in a “challenging” market
The UK's premier share index closed down 7.97 points, or 0.10% at 7,704
Investments and investor services
One City broker expects CMC to reveal a 22% jump in pre-tax profit in its results tomorrow.
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Aside from a trading update from WH Smith, the Week Ahead will also bring full-year results from the likes of AO World, CMC Markets, Auto Trader, and MITIE Group
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"Mitie's end markets remain highly fragmented and with the demise of Carillon and question marks against other providers, there should be the opportunity for scale players such as Mitie to take market share"
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The collapse of Carillion has presented fundamental questions about the outsourcing industry, according to Mitie chief executive Phil Bentley
The top-share index rallied in the afternoon session to close at 7,164, up 24 points on the day
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Wetherspoon founder will deliver his usual lengthy rant about Brexit; somewhere in the statement will be some decent numbers relating to the pubs group's performance
The latest quarterly FTSE indexes reshuffle will be announced after the market close on Wednesday, Royal Mail looks like it’s going to stage a return to the blue chips, with property company Hammerson PLC falling out
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The support services firm said its board “considered all indicative offers received for this profitable business, and concluded that none were at a sufficient level with which to proceed.”
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Mitie Group said that the company itself was not being investigated by the FRC
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The week ahead centres on the Autumn Budget but also sees updates from EasyJet, William Hill, Kingfisher, United Utilities, Mothercare and Fuller Smith & Turner
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Mitie also warned it has lost one of its top 20 contracts
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In a brief statement, the FTSE 250-listed firm said the FCA had informed it on August 25 about the investigation, which will also look at the manner of preparation and content of Mitie’s “financial information, position and results for the
Investments and investor services
The blue-chip index has traded sideways since about 8.30 this morning
Like Mitie, Capita’s 15% share price leap came after the group’s AGM statement and trading update showed no new bad news after a turbulent past year for the firm
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Russ Mould, investment director at AJ Bell, said: “Investors are clearly deciding that the Mitie numbers are so bad that they cannot get worse and that if they cannot get worse then they can only get better”
